[Ferro-Alloys.com]This week, the nickel price in London Metal Exchange has presented above $10000 per tone and recently it rose 2.37 percent and 4.13 percent in October 7 and October 9 respectively. And in October 13, nickel stockpiles in LME decreased to below 440 000 tones and recorded at 438 618 metric tones in October 16, 2015, which suggested that global nickel surplus was further reduced mainly caused by production cuts worldwide.

Shanghai nickel followed last week’s condition when the average price soared 650yuan per tone. Jinchuan Group actively upper-adjusted the nickel quotation to 79,000yuan and 80,200yuan seeing the nickel market to recover.

The nickel price would double its current level in the first quarter of 2017, which equals $9/lb, Alto capital analyst Carey Smith said during the 2015 Australian Nickel Conference.

The delayed FED interest rate increase, coupled with China’s better economic data, commodities prices naturally goes up, and it’s pretty obvious that another foreseeable government support was around the corner.

• [Editor:Juan]